CNA FINANCIAL CORP - FORM 8-K - EX-99.2

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Exhibit 99.2

CNA Financial Corporation

Supplemental Financial Information

December 31, 2010

This report is for informational purposes only and includes consolidated financial statements and financial exhibits that are unaudited. This report should be read in conjunction with documents filed with the U.S. Securities and Exchange Commission, including the most recent Form 10-K and Quarterly Reports on Form 10-Q.

CNA Financial Corporation
Table of Contents
December 31, 2010


	Page
Definitions and Presentation		i
Statements of Operations		1
Components of Income (Loss) Attributable to CNA Common Stockholders, Per Share Data and Return on Equity		2
Selected Balance Sheets Data and Statements of Cash Flows Data		3
Claim & Claim Adjustment Expense Reserve Rollforward		4
Investments by Segment Aggregation		5
Asset-Backed Exposure		6-9
Property & Casualty Results of Operations (Three Months Ended)		10
Life & Group Non-Core and Corporate & Other Non-Core Segments Results of Operations (Three Months Ended)		11
Property & Casualty Results of Operations (Twelve Months Ended)		12
Life & Group Non-Core and Corporate & Other Non-Core Segments Results of Operations (Twelve Months Ended)		13
Components of Pretax Net Investment Income		14
Statutory Data — Preliminary		15
Property & Casualty Operations Loss & LAE Ratio Analysis		16

CNA Financial Corporation

Definitions and Presentation

•		Collectively, CNA Financial Corporation (CNAF) and its controlled subsidiaries are referred to as CNA or the Company.

•		P&C Operations includes CNA Specialty and CNA Commercial.

•		Life & Group Non-Core segment primarily includes the results of the life and group lines of business that are in run-off.

•		Corporate & Other Non-Core segment primarily includes certain corporate expenses including interest on corporate debt and the results of certain property and casualty business in run-off, including CNA Re and asbestos and environmental pollution (A&EP). Intersegment eliminations are also included in this segment.

•		Management utilizes the net operating income financial measure to monitor the Company’s operations. Please refer to Note K of the Condensed Consolidated Financial Statements within the September 30, 2010 Form 10-Q for further discussion of this measure.

•		In evaluating the results of CNA Specialty and CNA Commercial, management utilizes the combined ratio, the loss ratio, the expense ratio and the dividend ratio. These ratios are calculated using financial results prepared in accordance with accounting principles generally accepted in the United States of America. The loss ratio is the percentage of net incurred claim and claim adjustment expenses to net earned premiums. The expense ratio is the percentage of insurance underwriting and acquisition expenses, including the amortization of deferred acquisition costs, to net earned premiums. The dividend ratio is the ratio of policyholders’ dividends incurred to net earned premiums. The combined ratio is the sum of the loss, expense and dividend ratios. The statutory expense ratio reported on page 15 is the percentage of acquisition and underwriting expenses to net written premiums in accordance with statutory accounting practices.

•		Limited partnerships are a relatively small portion of CNA’s overall investment portfolio. The majority of our limited partnership investments employ strategies that generate returns through investing in securities that are marketable while engaging in various management techniques primarily in public fixed income and equity markets. The risks associated with limited partnership investments may include losses due to leveraging, short-selling, derivatives or other speculative investment practices. The use of leverage increases volatility generated by the underlying investment strategies.

•		Certain immaterial differences are due to rounding.

•		N/M = Not Meaningful

•		FY = Full Year

Agreement to Cede Asbestos and Environmental Pollution (A&EP) Liabilities to National Indemnity Company (NICO)

On August 31, 2010, the Company completed a transaction with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc., under which substantially all of the Company’s legacy A&EP liabilities were ceded to NICO (Loss Portfolio Transfer or LPT). The Company recognized an after-tax net loss of $365 million for the year ended December 31, 2010, of which $344 million related to the Company’s continuing operations. Since a portion of the liabilities ceded related to the Company’s discontinued operations, the Company recognized an after-tax net loss for discontinued operations of $21 million for the year ended December 31, 2010.

Segment Change — Certain Mass Tort Claims

The Company revised its reporting segments in the fourth quarter of 2010. Prior period segment disclosures have been conformed to the current year presentation. The segment change reflects the manner in which the Company is currently organized for purposes of making operating decisions and assessing performance.

Net incurred claim and claim adjustment expenses and reserves for certain mass tort claims were previously reported as part of the Corporate & Other Non-Core segment. These mass tort claims were centrally managed along with asbestos and environmental pollution claims. A significant portion of this centralized claim group became employees of a subsidiary of Berkshire Hathaway Inc. as a result of the Loss Portfolio Transfer. Management responsibility for these mass tort claims has now been assigned to the segment from which the mass tort arose, which could be either CNA Specialty or CNA Commercial. This change had no impact on the Company’s CNA Specialty and Life & Group Non-Core segments for the periods presented herein.

CNA FINANCIAL CORPORATION
Financial Supplement
Statements of Operations


	Three Months						Fav /			Twelve Months						Fav /
PERIODS ENDED DECEMBER 31							(Unfav)									(Unfav)
(In millions)	2010			2009			% Change			2010			2009			% Change
STATEMENTS OF OPERATIONS
Revenues:
Net earned premiums	$	1,647		$	1,686			(2	)%	$	6,515		$	6,721			(3	)%
Net investment income		624			565			10			2,316			2,320			—
Net realized investment gains (losses), net of participating policyholders’ interests:
Other-than-temporary impairment (OTTI) losses		(65	)		(327	)		80			(254	)		(1,657	)		85
Portion of OTTI recognized in Other comprehensive income (loss)		(6	)		132			(105	)		22			305			(93	)


Net OTTI losses recognized in earnings (1)		(71	)		(195	)		64			(232	)		(1,352	)		83
Other net realized investment gains (losses)		32			267			(88	)		318			495			(36	)


Net realized investment gains (losses), net of participating policyholders’ interests		(39	)		72			(154	)		86			(857	)		110

Other revenues		66			75			(12	)		292			288			1


Total revenues		2,298			2,398			(4	)		9,209			8,472			9


Claims, benefits and expenses:
Insurance claims and policyholders’ benefits		1,186			1,371			13			4,985			5,290			6
Amortization of deferred acquisition costs		349			354			1			1,387			1,417			2
Other operating expenses		243			283			14			1,568			1,097			(43	)
Interest		44			33			(33	)		157			128			(23	)


Total claims, benefits and expenses		1,822			2,041			11			8,097			7,932			(2	)


Income (loss) from continuing operations before income tax		476			357			33			1,112			540			106
Income tax (expense) benefit		(150	)		(87	)		(72	)		(333	)		(57	)		N/M


Income (loss) from continuing operations, net of tax		326			270			21			779			483			61
Income (loss) from discontinued operations, net of tax		—			—			—			(21	)		(2	)		N/M


Net income (loss)		326			270			21			758			481			58
Net (income) loss attributable to noncontrolling interests		(24	)		(24	)		—			(68	)		(62	)		(10	)


Net income (loss) attributable to CNA	$	302		$	246			23	%	$	690		$	419			65	%


(1)		During the second quarter of 2009, the Company adopted updated accounting guidance, which amended the OTTI loss model for fixed maturity securities. Please refer to Note B of the Condensed Consolidated Financial Statements within the September 30, 2010 Form 10-Q for further information.

CNA FINANCIAL CORPORATION
Financial Supplement
Components of Income (Loss) Attributable to CNA Common Stockholders, Per Share Data and Return on Equity


PERIODS ENDED DECEMBER 31	Three Months						Twelve Months
(In millions, except per share data)	2010			2009			2010			2009

COMPONENTS OF INCOME (LOSS) ATTRIBUTABLE TO CNA COMMON STOCKHOLDERS
Net operating income (loss) from continuing operations attributable to CNA before LPT	$	326		$	197		$	1,004		$	982
Net loss related to LPT		—			—			(344	)		—

Net operating income (loss) from continuing operations attributable to CNA		326			197			660			982
Less: 2008 Senior Preferred dividend		(8	)		(28	)		(76	)		(122	)

Net operating income (loss) from continuing operations
attributable to CNA common stockholders		318			169			584			860
Net realized investment gains (losses) attributable to CNA common stockholders		(24	)		49			51			(561	)

Income (loss) from continuing operations attributable to CNA common stockholders		294			218			635			299
Income (loss) from discontinued operations attributable to CNA common stockholders		—			—			(21	)		(2	)

Income (loss) attributable to CNA common stockholders	$	294		$	218		$	614		$	297


BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE
Net operating income (loss) from continuing operations attributable to CNA before LPT	$	1.21		$	0.73		$	3.73		$	3.65
Net loss related to LPT		—			—			(1.28	)		—

Net operating income (loss) from continuing operations attributable to CNA		1.21			0.73			2.45			3.65
Less: 2008 Senior Preferred dividend		(0.03	)		(0.10	)		(0.28	)		(0.45	)

Net operating income (loss) from continuing operations attributable to CNA common stockholders		1.18			0.63			2.17			3.20
Net realized investment gains (losses) attributable to CNA common stockholders		(0.09	)		0.18			0.19			(2.09	)

Income (loss) from continuing operations attributable to CNA common stockholders		1.09			0.81			2.36			1.11
Income (loss) from discontinued operations attributable to CNA common stockholders		—			—			(0.08	)		(0.01	)

Basic and diluted earnings (loss) per share attributable to CNA common stockholders	$	1.09		$	0.81		$	2.28		$	1.10


WEIGHTED AVERAGE OUTSTANDING COMMON STOCK AND COMMON STOCK EQUIVALENTS
Basic		269.2			269.0			269.1			269.0

Diluted		269.6			269.2			269.5			269.1


RETURN ON EQUITY
Net income (loss) attributable to CNA (1)		10.5	%		9.2	%		6.4	%		4.8	%

Net operating income (loss) from continuing operations attributable to CNA (2)		12.2			7.2			6.1			9.0


(1)		Annualized net income (loss) attributable to CNA divided by the average CNA stockholders’ equity including accumulated other comprehensive income/loss (AOCI) for the period. Average equity including AOCI is calculated using a simple average of the beginning and ending balances for the period.

(2)		Annualized net operating income (loss) from continuing operations attributable to CNA divided by the average CNA stockholders’ equity excluding AOCI for the period. Average equity excluding AOCI is calculated using a simple average of the beginning and ending balances for the period.

CNA FINANCIAL CORPORATION
Financial Supplement
Selected Balance Sheets Data and Statements of Cash Flows Data


DECEMBER 31
(In millions, except share data)	2010		2009

Total assets	$	55,331	$	55,298
Insurance reserves		37,590		38,263
Debt		2,651		2,303
Total liabilities		43,807		44,132
Preferred stock		—		1,000
Accumulated other comprehensive income (loss)		326		(325	)
Noncontrolling interests		570		506
Total CNA stockholders’ equity		10,954		10,660

Book value per common share	$	40.70	$	35.91

Book value per common share excluding AOCI	$	39.49	$	37.12

Outstanding shares of common stock (in millions of shares)		269.1		269.0


THREE MONTHS ENDED
DECEMBER 31
(In millions)	2010			2009

Net cash flows provided (used) by operating activities (1)	$	584		$	983

Net cash flows provided (used) by investing activities		(93	)		(925	)

Net cash flows provided (used) by financing activities		(497	)		(48	)


Net cash flows provided (used) by operating, investing and financing activities	$	(6	)	$	10


TWELVE MONTHS ENDED
DECEMBER 31
(In millions)	2010			2009

Net cash flows provided (used) by operating activities (1) (2)	$	(89	)	$	1,258

Net cash flows provided (used) by investing activities		767			(1,093	)

Net cash flows provided (used) by financing activities		(742	)		(120	)


Net cash flows provided (used) by operating, investing and financing activities	$	(64	)	$	45


(1)		Operating cash flows for the three and twelve months ended December 31, 2010 include $(1) million and $(90) million related to discontinued operations. Operating cash flows for the three and twelve months ended December 31, 2009 include $(7) million and $(23) million related to discontinued operations.

(2)		Operating cash flows for the twelve months ended December 31, 2010 include $(1.9) billion related to the initial net cash settlement with NICO for the Loss Portfolio Transfer, as further discussed on page i.

CNA FINANCIAL CORPORATION
Financial Supplement
Claim & Claim Adjustment Expense Reserve Rollforward


THREE MONTHS ENDED DECEMBER 31, 2010
										Life & Group			Corporate &
(In millions)	CNA Specialty			CNA Commercial			P&C Operations			Non-Core			Other Non-Core			Total Operations

Claim & claim adjustment expense reserves, beginning of period
Gross	$	6,913		$	12,751		$	19,664		$	2,744		$	3,375		$	25,783
Ceded		948			2,138			3,086			675			2,631			6,392

Net		5,965			10,613			16,578			2,069			744			19,391


Net incurred claim & claim adjustment expenses		334			529			863			165			8			1,036

Net claim & claim adjustment expense payments		(389	)		(507	)		(896	)		(137	)		(34	)		(1,067	)

Foreign currency translation adjustment and other		8			6			14			—			—			14

Claim & claim adjustment expense reserves, end of period
Net		5,918			10,641			16,559			2,097			718			19,374
Ceded		875			1,881			2,756			642			2,724			6,122

Gross	$	6,793		$	12,522		$	19,315		$	2,739		$	3,442		$	25,496


TWELVE MONTHS ENDED DECEMBER 31, 2010
										Life & Group			Corporate &
(In millions)	CNA Specialty			CNA Commercial			P&C Operations			Non-Core			Other Non-Core			Total Operations

Claim & claim adjustment expense reserves, beginning of period
Gross	$	6,922		$	13,243		$	20,165		$	2,883		$	3,768		$	26,816
Ceded		1,056			2,246			3,302			863			1,429			5,594

Net		5,866			10,997			16,863			2,020			2,339			21,222


Reduction of net reserves due to A&EP LPT		—			—			—			—			(1,381	)		(1,381	)

Reduction of net reserves due to sale of subsidiary		—			(98	)		(98	)		—			—			(98	)

Net incurred claim & claim adjustment expenses		1,449			2,210			3,659			603			58			4,320

Net claim & claim adjustment expense payments		(1,398	)		(2,462	)		(3,860	)		(525	)		(299	)		(4,684	)

Foreign currency translation adjustment and other		1			(6	)		(5	)		(1	)		1			(5	)

Claim & claim adjustment expense reserves, end of period
Net		5,918			10,641			16,559			2,097			718			19,374
Ceded		875			1,881			2,756			642			2,724			6,122

Gross	$	6,793		$	12,522		$	19,315		$	2,739		$	3,442		$	25,496

CNA FINANCIAL CORPORATION
Financial Supplement
Investments by Segment Aggregation


	December 31, 2010					September 30, 2010					December 31, 2009
(In millions)	Book Value			Carrying Value		Book Value			Carrying Value		Book Value			Carrying Value

Property & Casualty and Corporate & Other Non-Core:
Fixed maturities, excluding states, municipalities and political subdivisions	$	20,962		$	21,559	$	20,827		$	21,740	$	21,254		$	21,120
States, municipalities and political subdivisions:
Tax-exempt		2,106			2,116		2,735			2,744		4,513			4,446
Taxable		2,484			2,442		2,208			2,328		41			38
Equities		157			182		187			206		298			292
Short term investments		2,129			2,131		2,019			2,019		3,789			3,792
Limited partnership investments		2,307			2,307		2,164			2,164		1,777			1,777
Mortgage loans & other		93			94		78			78		3			3

Total investments	$	30,238		$	30,831	$	30,218		$	31,279	$	31,675		$	31,468



Net receivable/(payable)	$	(197	)			$	(121	)			$	(91	)
Securities lending collateral		—					—					—


Life & Group Non-Core:
Fixed maturities, excluding states, municipalities and political subdivisions	$	7,308		$	8,129	$	7,772		$	8,898	$	7,013		$	7,312
States, municipalities and political subdivisions:
Tax-exempt		2,394			2,166		2,426			2,503		2,665			2,583
Taxable		1,173			1,165		413			433		116			113
Equities		265			258		278			325		335			352
Short term investments		84			84		65			65		156			157
Limited partnership investments		2			2		2			2		10			10
Mortgage loans & other		20			20		21			21		1			1

Total investments	$	11,246		$	11,824	$	10,977		$	12,247	$	10,296		$	10,528



Net receivable/(payable)	$	(25	)			$	17				$	—
Securities lending collateral		—					—					—


Total investments	$	41,484		$	42,655	$	41,195		$	43,526	$	41,971		$	41,996



Total net receivable/(payable)	$	(222	)			$	(104	)			$	(91	)
Total securities lending collateral		—					—					—

CNA FINANCIAL CORPORATION
Financial Supplement
Asset-Backed Exposure
As of December 31, 2010
(In millions)

Invested Assets Fair Value By Segment


	P&C and
	Corporate & Other				Life & Group
	Non-Core		%		Non-Core		%		Total		%
RMBS	$	5,716		18.5	$	374		3.2	$	6,090		14.3
CMBS		833		2.7		160		1.3		993		2.3
Other ABS		712		2.3		51		0.4		763		1.8

Total asset-backed exposure		7,261		23.5		585		4.9		7,846		18.4
Other fixed maturities		18,856		61.2		10,875		92.0		29,731		69.7
All other invested assets		4,714		15.3		364		3.1		5,078		11.9

Total investments	$	30,831		100.0	$	11,824		100.0	$	42,655		100.0


Sub-prime (included in RMBS above)	$	461		1.5	$	22		0.2	$	483		1.1
Alt-A (included in RMBS above)	$	563		1.8	$	69		0.6	$	632		1.5

Invested Assets Amortized Cost By Segment


	P&C and
	Corporate & Other				Life & Group
	Non-Core		%		Non-Core		%		Total		%
RMBS	$	5,869		19.4	$	385		3.4	$	6,254		15.1
CMBS		835		2.8		159		1.4		994		2.4
Other ABS		707		2.3		46		0.4		753		1.8

Total asset-backed exposure		7,411		24.5		590		5.2		8,001		19.3
Other fixed maturities		18,141		60.0		10,285		91.5		28,426		68.5
All other invested assets		4,686		15.5		371		3.3		5,057		12.2

Total investments	$	30,238		100.0	$	11,246		100.0	$	41,484		100.0


Sub-prime (included in RMBS above)	$	506		1.7	$	21		0.2	$	527		1.3
Alt-A (included in RMBS above)	$	592		2.0	$	70		0.6	$	662		1.6

RMBS/CMBS/Other ABS Distribution


																	% of Asset-Backed
	RMBS				CMBS				Other ABS				Total				Exposure				% of Total Investments
	Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized
	Value		Cost		Value		Cost		Value		Cost		Value		Cost		Value		Cost		Value		Cost
U.S. Government Agencies	$	3,367	$	3,329	$	30	$	30	$	—	$	—	$	3,397	$	3,359		43.3		42.0		8.0		8.1
AAA		1,172		1,224		194		191		551		544		1,917		1,959		24.4		24.5		4.5		4.7
AA		206		231		257		265		154		152		617		648		7.9		8.1		1.4		1.6
A		190		199		246		242		26		26		462		467		5.9		5.8		1.1		1.1
BBB		228		249		116		120		19		18		363		387		4.6		4.8		0.8		0.9
<BBB & Equity Tranches		927		1,022		150		146		13		13		1,090		1,181		13.9		14.8		2.6		2.9

Total RMBS/CMBS/other ABS	$	6,090	$	6,254	$	993	$	994	$	763	$	753	$	7,846	$	8,001		100.0		100.0		18.4		19.3


(1)		The exposure to sub-prime residential mortgage (sub-prime) collateral and Alternative A residential mortgages that have lower than normal standards of loan documentation (Alt-A) collateral is measured by the original deal structure.

(2)		The ratings presented are based on a ratings methodology that takes into account ratings from two major providers, Standard & Poor’s and Moody’s Investors Service, Inc., in that order of preference. If a security is not rated by these providers, an internal rating is formulated. For securities with credit support from third party guarantees, the rating reflects the greater of the underlying rating of the issuer or the insured rating.

RMBS — Residential mortgage-backed securities

CMBS — Commercial mortgage-backed securities

Other ABS — Other asset-backed securities

CNA FINANCIAL CORPORATION
Financial Supplement
Asset-Backed Exposure
As of December 31, 2010
(In millions)

RMBS Sub-Prime Fair Value Quality Distribution by Vintage Year


																	<BBB &
																	Equity
	AAA		%		AA		%		A		%		BBB		%		Tranches		%		Total		%
2009	$	12		9.1	$	—		—	$	2		5.5	$	—		—	$	—		—	$	14		2.9
2008		—		—		—		—		2		5.5		—		—		—		—		2		0.4
2007		6		4.6		28		19.4		5		13.9		9		20.0		11		8.7		59		12.2
2006		70		53.0		45		31.3		10		27.8		34		75.6		52		41.3		211		43.7
2005		32		24.2		39		27.1		1		2.8		1		2.2		9		7.1		82		17.0
2004		7		5.3		18		12.5		2		5.5		1		2.2		23		18.3		51		10.5
2003 & prior		5		3.8		14		9.7		14		39.0		—		—		31		24.6		64		13.3

Total sub-prime	$	132		100.0	$	144		100.0	$	36		100.0	$	45		100.0	$	126		100.0	$	483		100.0

RMBS Sub-Prime Amortized Cost Quality Distribution by Vintage Year


																	<BBB &
																	Equity
	AAA		%		AA		%		A		%		BBB		%		Tranches		%		Total		%
2009	$	12		8.5	$	—		—	$	2		4.9	$	—		—	$	—		—	$	14		2.7
2008		—		—		—		—		2		4.9		—		—		—		—		2		0.4
2007		7		5.0		28		17.1		5		12.2		9		20.0		11		8.1		60		11.4
2006		78		55.3		51		31.1		10		24.4		34		75.6		60		44.1		233		44.2
2005		32		22.7		50		30.5		1		2.4		1		2.2		11		8.1		95		18.0
2004		7		5.0		19		11.6		3		7.3		1		2.2		25		18.4		55		10.4
2003 & prior		5		3.5		16		9.7		18		43.9		—		—		29		21.3		68		12.9

Total sub-prime	$	141		100.0	$	164		100.0	$	41		100.0	$	45		100.0	$	136		100.0	$	527		100.0

RMBS Alt-A Fair Value Quality Distribution by Vintage Year


																	<BBB &
																	Equity
	AAA		%		AA		%		A		%		BBB		%		Tranches		%		Total		%
2009	$	—		—	$	—		—	$	—		—	$	—		—	$	—		—	$	—		—
2008		—		—		—		—		—		—		—		—		—		—		—		—
2007		6		1.7		—		—		3		6.3		—		—		37		46.3		46		7.3
2006		—		—		4		9.1		13		27.1		8		7.8		34		42.5		59		9.3
2005		24		6.7		7		15.9		10		20.8		58		56.3		3		3.7		102		16.2
2004		278		77.9		19		43.2		21		43.7		37		35.9		6		7.5		361		57.1
2003 & prior		49		13.7		14		31.8		1		2.1		—		—		—		—		64		10.1

Total Alt-A	$	357		100.0	$	44		100.0	$	48		100.0	$	103		100.0	$	80		100.0	$	632		100.0

RMBS Alt-A Amortized Cost Quality Distribution by Vintage Year


																	<BBB &
																	Equity
	AAA		%		AA		%		A		%		BBB		%		Tranches		%		Total		%
2009	$	—		—	$	—		—	$	—		—	$	—		—	$	—		—	$	—		—
2008		—		—		—		—		—		—		—		—		—		—		—		—
2007		7		1.9		—		—		2		4.2		—		—		44		48.3		53		8.0
2006		—		—		4		8.3		13		27.1		8		7.6		36		39.6		61		9.2
2005		26		7.0		10		20.8		10		20.8		59		56.2		3		3.3		108		16.3
2004		287		77.6		19		39.6		22		45.8		38		36.2		8		8.8		374		56.5
2003 & prior		50		13.5		15		31.3		1		2.1		—		—		—		—		66		10.0

Total Alt-A	$	370		100.0	$	48		100.0	$	48		100.0	$	105		100.0	$	91		100.0	$	662		100.0

CNA FINANCIAL CORPORATION
Financial Supplement
Asset-Backed Exposure
As of December 31, 2010
(In millions)

RMBS Distribution By Collateral Type & Quality


	Fixed Coupon -				Fixed Coupon -
	30 Year				15/20 Year				ARM				Home Equity				Other				Total
	Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized
	Value		Cost		Value		Cost		Value		Cost		Value		Cost		Value		Cost		Value		Cost
U.S. Government Agencies	$	2,845	$	2,805	$	515	$	517	$	5	$	5	$	—	$	—	$	2	$	2	$	3,367	$	3,329
AAA		563		590		137		144		52		56		3		3		417		431		1,172		1,224
AA		74		84		—		—		54		54		72		86		6		7		206		231
A		151		159		17		18		15		15		3		4		4		3		190		199
BBB		179		200		—		—		33		33		16		16		—		—		228		249
<BBB & Equity Tranches		455		492		39		40		375		432		40		40		18		18		927		1,022

Total RMBS	$	4,267	$	4,330	$	708	$	719	$	534	$	595	$	134	$	149	$	447	$	461	$	6,090	$	6,254


Included in Total RMBS:
MBS Pass-Through	$	1,382	$	1,391	$	207	$	209	$	5	$	5	$	—	$	—	$	7	$	5	$	1,601	$	1,610
Structured		2,885		2,939		501		510		529		590		134		149		440		456		4,489		4,644

Total RMBS	$	4,267	$	4,330	$	708	$	719	$	534	$	595	$	134	$	149	$	447	$	461	$	6,090	$	6,254


Included in Total RMBS:
Sub-prime	$	242	$	271	$	—	$	—	$	91	$	91	$	133	$	149	$	17	$	16	$	483	$	527
Alt-A		564		587		13		14		47		53		—		—		8		8		632		662
Prime		3,461		3,472		695		705		396		451		1		—		422		437		4,975		5,065

Total RMBS	$	4,267	$	4,330	$	708	$	719	$	534	$	595	$	134	$	149	$	447	$	461	$	6,090	$	6,254

CMBS Distribution By Deal Coupon Type & Quality


	Fixed Rate				Adjustable/Floating Rate				Total
	Fair		Amortized		Fair		Amortized		Fair		Amortized
	Value		Cost		Value		Cost		Value		Cost
U.S. Government Agencies	$	—	$	—	$	30	$	30	$	30	$	30
AAA		124		122		70		69		194		191
AA		61		61		196		204		257		265
A		94		96		152		146		246		242
BBB		23		23		93		97		116		120
<BBB & Equity Tranches		68		83		82		63		150		146

Total CMBS	$	370	$	385	$	623	$	609	$	993	$	994


Included in Total CMBS:
MBS Pass-Through	$	—	$	—	$	—	$	—	$	—	$	—
Structured		370		385		623		609		993		994

Total CMBS	$	370	$	385	$	623	$	609	$	993	$	994


ARM — Adjustable rate mortgages

MBS — Mortgage-backed securities

CNA FINANCIAL CORPORATION
Financial Supplement
Asset-Backed Exposure
As of December 31, 2010
(In millions)

Other ABS Distribution By Collateral Type & Quality


	Auto Loans				Student Loans				Other				Total
	Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized
	Value		Cost		Value		Cost		Value		Cost		Value		Cost
AAA	$	280	$	274	$	60	$	67	$	211	$	203	$	551	$	544
AA		14		14		—		—		140		138		154		152
A		21		21		—		—		5		5		26		26
BBB		7		7		—		—		12		11		19		18
<BBB & Equity Tranches		—		—		—		—		13		13		13		13

Total other ABS	$	322	$	316	$	60	$	67	$	381	$	370	$	763	$	753


Included in Total other ABS:
Pass-Through	$	7	$	7	$	—	$	—	$	—	$	—	$	7	$	7
Structured		315		309		60		67		381		370		756		746

Total other ABS	$	322	$	316	$	60	$	67	$	381	$	370	$	763	$	753

CNA FINANCIAL CORPORATION
Financial Supplement
Property & Casualty Results of Operations


THREE MONTHS ENDED	CNA Specialty									CNA Commercial									P&C Operations
DECEMBER 31							Fav / (Unfav)									Fav / (Unfav)									Fav / (Unfav)
(In millions)	2010			2009			% Change			2010			2009			% Change			2010			2009			% Change

Gross written premiums	$	1,054		$	1,027			3	%	$	839		$	878			(4	)%	$	1,893		$	1,905			(1	)%
Net written premiums		682			667			2			778			801			(3	)		1,460			1,468			(1	)

Net earned premiums		681			683			—			824			858			(4	)		1,505			1,541			(2	)
Net investment income		171			130			32			252			223			13			423			353			20
Other revenues		54			53			2			12			14			(14	)		66			67			(1	)

Total operating revenues		906			866			5			1,088			1,095			(1	)		1,994			1,961			2

Claims, benefits and expenses:
Net incurred claims and benefits		332			327			(2	)		507			562			10			839			889			6
Policyholders’ dividends		6			2			(200	)		3			3			—			9			5			(80	)
Amortization of deferred acquisition costs		160			167			4			184			184			—			344			351			2
Other insurance related expenses		47			40			(18	)		106			134			21			153			174			12
Other expenses		49			46			(7	)		13			15			13			62			61			(2	)

Total claims, benefits and expenses		594			582			(2	)		813			898			9			1,407			1,480			5

Operating income (loss) from continuing operations before income tax		312			284			10			275			197			40			587			481			22
Income tax (expense) benefit on operating income (loss)		(105	)		(87	)		(21	)		(95	)		(57	)		(67	)		(200	)		(144	)		(39	)
Net operating (income) loss, after-tax, attributable to noncontrolling interests		(22	)		(19	)		(16	)		(2	)		(5	)		60			(24	)		(24	)		—


Net operating income (loss) from continuing operations attributable to CNA		185			178			4			178			135			32			363			313			16

Net realized investment gains (losses), net of participating policyholders’ interests		(30	)		41			(173	)		(45	)		86			(152	)		(75	)		127			(159	)
Income tax (expense) benefit on net realized investment gains (losses)		11			(12	)		192			16			(31	)		152			27			(43	)		163
Net realized investment (gains) losses, after-tax, attributable to noncontrolling interests		—			(1	)		N/M			—			1			N/M			—			—			—


Net realized investment gains (losses) attributable to CNA		(19	)		28			(168	)		(29	)		56			(152	)		(48	)		84			(157	)


Net income (loss) from continuing operations attributable to CNA	$	166		$	206			(19	)%	$	149		$	191			(22	)%	$	315		$	397			(21	)%


FINANCIAL RATIOS
Loss & LAE		48.8	%		47.8	%					61.8	%		65.6	%					55.9	%		57.8	%
Acquisition expense		18.6			18.7						17.1			20.2						17.8			19.6
Underwriting expense		11.9			11.6						18.1			16.8						15.3			14.3

Expense		30.5			30.3						35.2			37.0						33.1			33.9
Dividend		0.9			0.3						0.4			0.4						0.6			0.4

Combined ratio		80.2	%		78.4	%					97.4	%		103.0	%					89.6	%		92.1	%


RATIO IMPACTS
Impact of catastrophes
Pretax net accident year catastrophe losses incurred	$	2		$	1					$	19		$	9					$	21		$	10
Impact on loss & LAE ratio		0.3	%		0.1	%					2.3	%		1.1	%					1.4	%		0.7	%

Impact of development & other
Pretax net development: (favorable) / unfavorable
Prior year loss & ALAE reserve development	$	(126	)	$	(115	)				$	(75	)	$	(82	)				$	(201	)	$	(197	)
Prior year premium development		2			(6	)					(6	)		2						(4	)		(4	)
Other (1)		(2	)		1						(15	)		6						(17	)		7

Total development & other	$	(126	)	$	(120	)				$	(96	)	$	(74	)				$	(222	)	$	(194	)


Impact of development & other on loss & LAE ratio		(18.6	)%		(17.1	)%					(11.3	)%		(8.6	)%					(14.6	)%		(12.5	)%


(1)		Other includes the impacts of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.

CNA FINANCIAL CORPORATION
Financial Supplement
Life & Group Non-Core and Corporate & Other Non-Core Segments Results of Operations


THREE MONTHS ENDED	P&C Operations						Life & Group Non-Core									Corporate & Other Non-Core									Total Operations
DECEMBER 31													Fav / (Unfav)									Fav / (Unfav)									Fav / (Unfav)
(In millions)	2010			2009			2010			2009			% Change			2010			2009			% Change			2010			2009			% Change

Net earned premiums	$	1,505		$	1,541		$	146		$	148			(1	)%	$	(4	)	$	(3	)		(33	)%	$	1,647		$	1,686			(2	)%
Net investment income		423			353			184			168			10			17			44			(61	)		624			565			10
Other revenues		66			67			(3	)		4			(175	)		3			4			(25	)		66			75			(12	)

Total operating revenues		1,994			1,961			327			320			2			16			45			(64	)		2,337			2,326			—

Claims, benefits and expenses:
Net incurred claims and benefits		839			889			326			311			(5	)		10			164			94			1,175			1,364			14
Policyholders’ dividends		9			5			2			2			—			—			—			—			11			7			(57	)
Amortization of deferred acquisition costs		344			351			5			3			(67	)		—			—			—			349			354			1
Other insurance related expenses		153			174			43			45			4			—			(1	)		N/M			196			218			10
Other expenses		62			61			(11	)		5			N/M			40			32			(25	)		91			98			7

Total claims, benefits and expenses		1,407			1,480			365			366			—			50			195			74			1,822			2,041			11

Operating income (loss) from continuing operations before income tax		587			481			(38	)		(46	)		17			(34	)		(150	)		77			515			285			81
Income tax (expense) benefit on operating income (loss)		(200	)		(144	)		23			27			(15	)		12			53			(77	)		(165	)		(64	)		(158	)
Net operating (income) loss, after-tax, attributable to noncontrolling interests		(24	)		(24	)		—			—			—			—			—			—			(24	)		(24	)		—


Net operating income (loss) from continuing operations attributable to CNA		363			313			(15	)		(19	)		21			(22	)		(97	)		77			326			197			65

Net realized investment gains (losses), net of participating policyholders’ interests		(75	)		127			38			(79	)		148			(2	)		24			(108	)		(39	)		72			(154	)
Income tax (expense) benefit on net realized investment gains (losses)		27			(43	)		(13	)		27			(148	)		1			(7	)		114			15			(23	)		165
Net realized investment (gains) losses, after-tax, attributable to noncontrolling interests		—			—			—			—			—			—			—			—			—			—			—


Net realized investment gains (losses) attributable to CNA		(48	)		84			25			(52	)		148			(1	)		17			(106	)		(24	)		49			(149	)


Net income (loss) from continuing operations attributable to CNA	$	315		$	397		$	10		$	(71	)		114	%	$	(23	)	$	(80	)		71	%	$	302		$	246			23	%

CNA FINANCIAL CORPORATION
Financial Supplement
Property & Casualty Results of Operations


TWELVE MONTHS ENDED	CNA Specialty									CNA Commercial									P&C Operations
DECEMBER 31							Fav / (Unfav)									Fav / (Unfav)									Fav / (Unfav)
(In millions)	2010			2009			% Change			2010			2009			% Change			2010			2009			% Change

Gross written premiums	$	4,234		$	4,222			—	%	$	3,512		$	3,824			(8	)%	$	7,746		$	8,046			(4	)%
Net written premiums		2,691			2,684			—			3,208			3,448			(7	)		5,899			6,132			(4	)

Net earned premiums		2,679			2,697			(1	)		3,256			3,432			(5	)		5,935			6,129			(3	)
Net investment income		591			526			12			873			935			(7	)		1,464			1,461			—
Other revenues		216			206			5			61			61			—			277			267			4

Total operating revenues		3,486			3,429			2			4,190			4,428			(5	)		7,676			7,857			(2	)

Claims, benefits and expenses:
Net incurred claims and benefits		1,447			1,536			6			2,175			2,420			10			3,622			3,956			8
Policyholders’ dividends		12			9			(33	)		14			9			(56	)		26			18			(44	)
Amortization of deferred acquisition costs		631			624			(1	)		736			775			5			1,367			1,399			2
Other insurance related expenses		186			163			(14	)		424			435			3			610			598			(2	)
Other expenses		190			179			(6	)		55			77			29			245			256			4

Total claims, benefits and expenses		2,466			2,511			2			3,404			3,716			8			5,870			6,227			6

Operating income (loss) from continuing operations before income tax		1,020			918			11			786			712			10			1,806			1,630			11
Income tax (expense) benefit on operating income (loss)		(343	)		(282	)		(22	)		(260	)		(201	)		(29	)		(603	)		(483	)		(25	)
Net operating (income) loss, after-tax, attributable to noncontrolling interests		(52	)		(45	)		(16	)		(17	)		(17	)		—			(69	)		(62	)		(11	)


Net operating income (loss) from continuing operations attributable to CNA		625			591			6			509			494			3			1,134			1,085			5

Net realized investment gains (losses), net of participating policyholders’ interests		30			(186	)		116			(15	)		(360	)		96			15			(546	)		103
Income tax (expense) benefit on net realized investment gains (losses)		(10	)		64			(116	)		(1	)		123			(101	)		(11	)		187			(106	)
Net realized investment (gains) losses, after-tax, attributable to noncontrolling interests		—			(1	)		N/M			1			1			—			1			—			N/M


Net realized investment gains (losses) attributable to CNA		20			(123	)		116			(15	)		(236	)		94			5			(359	)		101


Net income (loss) from continuing operations attributable to CNA	$	645		$	468			38	%	$	494		$	258			91	%	$	1,139		$	726			57	%


FINANCIAL RATIOS
Loss & LAE		54.0	%		56.9	%					66.8	%		70.5	%					61.0	%		64.5	%
Acquisition expense		19.2			18.8						17.8			18.5						18.4			18.6
Underwriting expense		11.3			10.5						17.9			16.7						15.0			14.0

Expense		30.5			29.3						35.7			35.2						33.4			32.6
Dividend		0.5			0.3						0.4			0.3						0.4			0.3

Combined ratio		85.0	%		86.5	%					102.9	%		106.0	%					94.8	%		97.4	%


RATIO IMPACTS
Impact of catastrophes
Pretax net accident year catastrophe losses incurred	$	8		$	7					$	113		$	82					$	121		$	89
Impact on loss & LAE ratio		0.3	%		0.2	%					3.5	%		2.4	%					2.0	%		1.4	%

Impact of development & other
Pretax net development: (favorable) / unfavorable
Prior year loss & ALAE reserve development	$	(341	)	$	(218	)				$	(304	)	$	(230	)				$	(645	)	$	(448	)
Prior year premium development		(3	)		(6	)					48			87						45			81
Other (1)		(2	)		—						(14	)		18						(16	)		18

Total development & other	$	(346	)	$	(224	)				$	(270	)	$	(125	)				$	(616	)	$	(349	)


Impact of development & other on loss & LAE ratio		(12.9	)%		(8.3	)%					(8.7	)%		(4.3	)%					(10.6	)%		(6.1	)%


(1)		Other includes the impacts of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.

CNA FINANCIAL CORPORATION
Financial Supplement
Life & Group Non-Core and Corporate & Other Non-Core Segments Results of Operations


TWELVE MONTHS ENDED	P&C Operations						Life & Group Non-Core									Corporate & Other Non-Core									Total Operations
DECEMBER 31													Fav / (Unfav)									Fav / (Unfav)									Fav / (Unfav)
(In millions)	2010			2009			2010			2009			% Change			2010			2009			% Change			2010			2009			% Change

Net earned premiums	$	5,935		$	6,129		$	582		$	595			(2	)%	$	(2	)	$	(3	)		33	%	$	6,515		$	6,721			(3	)%
Net investment income		1,464			1,461			715			664			8			137			195			(30	)		2,316			2,320			—
Other revenues		277			267			7			11			(36	)		8			10			(20	)		292			288			1

Total operating revenues		7,676			7,857			1,304			1,270			3			143			202			(29	)		9,123			9,329			(2	)

Claims, benefits and expenses:
Net incurred claims and benefits		3,622			3,956			1,275			1,084			(18	)		58			227			74			4,955			5,267			6
Policyholders’ dividends		26			18			4			5			20			—			—			—			30			23			(30	)
Amortization of deferred acquisition costs		1,367			1,399			20			18			(11	)		—			—			—			1,387			1,417			2
Other insurance related expenses		610			598			180			183			2			7			—			N/M			797			781			(2	)
Other expenses		245			256			2			69			97			681			119			N/M			928			444			(109	)

Total claims, benefits and expenses		5,870			6,227			1,481			1,359			(9	)		746			346			(116	)		8,097			7,932			(2	)

Operating income (loss) from continuing operations before income tax		1,806			1,630			(177	)		(89	)		(99	)		(603	)		(144	)		N/M			1,026			1,397			(27	)
Income tax (expense) benefit on operating income (loss)		(603	)		(483	)		90			73			23			216			57			N/M			(297	)		(353	)		16
Net operating (income) loss, after-tax, attributable to noncontrolling interests		(69	)		(62	)		—			—			—			—			—			—			(69	)		(62	)		(11	)


Net operating income (loss) from continuing operations attributable to CNA		1,134			1,085			(87	)		(16	)		N/M			(387	)		(87	)		N/M			660			982			(33	)

Net realized investment gains (losses), net of participating policyholders’ interests		15			(546	)		53			(235	)		123			18			(76	)		124			86			(857	)		110
Income tax (expense) benefit on net realized investment gains (losses)		(11	)		187			(20	)		82			(124	)		(5	)		27			(119	)		(36	)		296			(112	)
Net realized investment (gains) losses, after-tax, attributable to noncontrolling interests		1			—			—			—			—			—			—			—			1			—			N/M


Net realized investment gains (losses) attributable to CNA		5			(359	)		33			(153	)		122			13			(49	)		127			51			(561	)		109


Net income (loss) from continuing operations attributable to CNA	$	1,139		$	726		$	(54	)	$	(169	)		68	%	$	(374	)	$	(136	)		(175	)%	$	711		$	421			69	%

CNA FINANCIAL CORPORATION
Financial Supplement
Components of Pretax Net Investment Income


	CNA Specialty
(In millions)	1Q09			2Q09		3Q09		4Q09			2009			1Q10		2Q10			3Q10		4Q10			2010

Income (loss) from limited partnerships	$	(19	)	$	47	$	41	$	23		$	92		$	23	$	(1	)	$	23	$	41		$	86
Income (loss) from trading portfolio		—			2		4		1			7			1		1			1		2			5
Other investment income		104			108		109		106			427			123		125			124		128			500

Net investment income	$	85		$	157	$	154	$	130		$	526		$	147	$	125		$	148	$	171		$	591


	CNA Commercial
	1Q09			2Q09		3Q09		4Q09			2009			1Q10		2Q10			3Q10		4Q10			2010

Income (loss) from limited partnerships	$	(40	)	$	97	$	84	$	45		$	186		$	40	$	(2	)	$	38	$	68		$	144
Income (loss) from trading portfolio		—			4		7		2			13			2		1			2		2			7
Other investment income		185			187		188		176			736			179		185			176		182			722

Net investment income	$	145		$	288	$	279	$	223		$	935		$	221	$	184		$	216	$	252		$	873


	P&C Operations
	1Q09			2Q09		3Q09		4Q09			2009			1Q10		2Q10			3Q10		4Q10			2010

Income (loss) from limited partnerships	$	(59	)	$	144	$	125	$	68		$	278		$	63	$	(3	)	$	61	$	109		$	230
Income (loss) from trading portfolio		—			6		11		3			20			3		2			3		4			12
Other investment income		289			295		297		282			1,163			302		310			300		310			1,222

Net investment income	$	230		$	445	$	433	$	353		$	1,461		$	368	$	309		$	364	$	423		$	1,464


	Life & Group Non-Core
	1Q09			2Q09		3Q09		4Q09			2009			1Q10		2Q10			3Q10		4Q10			2010

Income (loss) from limited partnerships	$	(2	)	$	—	$	1	$	(2	)	$	(3	)	$	—	$	(3	)	$	1	$	—		$	(2	)
Income (loss) from trading portfolio		—			—		—		—			—			—		—			—		—			—
Other investment income		161			168		168		170			667			175		177			181		184			717

Net investment income	$	159		$	168	$	169	$	168		$	664		$	175	$	174		$	182	$	184		$	715


	Corporate & Other Non-Core
	1Q09			2Q09		3Q09		4Q09			2009			1Q10		2Q10			3Q10		4Q10			2010

Income (loss) from limited partnerships	$	(9	)	$	21	$	19	$	9		$	40		$	9	$	2		$	6	$	4		$	21
Income (loss) from trading portfolio		—			2		1		—			3			1		—			1		(1	)		1
Other investment income		40			39		38		35			152			37		36			28		14			115

Net investment income	$	31		$	62	$	58	$	44		$	195		$	47	$	38		$	35	$	17		$	137


	Total Operations
	1Q09			2Q09		3Q09		4Q09			2009			1Q10		2Q10			3Q10		4Q10			2010

Income (loss) from limited partnerships	$	(70	)	$	165	$	145	$	75		$	315		$	72	$	(4	)	$	68	$	113		$	249
Income (loss) from trading portfolio		—			8		12		3			23			4		2			4		3			13
Other investment income		490			502		503		487			1,982			514		523			509		508			2,054

Net investment income	$	420		$	675	$	660	$	565		$	2,320		$	590	$	521		$	581	$	624		$	2,316

CNA FINANCIAL CORPORATION
Financial Supplement
Statutory Data – Preliminary


PERIODS ENDED DECEMBER 31	Three Months									Twelve Months
Income Statement	(Preliminary)						Fav / (Unfav)			(Preliminary)						Fav / (Unfav)
(In millions)	2010			2009			% Change			2010			2009			% Change
Combined Continental Casualty Companies
Gross written premiums	$	1,818		$	1,807			1	%	$	7,448		$	7,727			(4	)%
Net written premiums		1,382			1,381			—			5,637			5,843			(4	)

Net earned premiums		1,298			1,303			—			5,042			5,352			(6	)
Claim and claim adjustment expenses		1,072			1,189			10			4,123			4,322			5
Acquisition expenses		237			236			—			962			1,007			4
Underwriting expenses		222			241			8			818			875			7
Policyholders’ dividends		5			4			(25	)		14			15			7

Underwriting income (loss)		(238	)		(367	)		35			(875	)		(867	)		(1	)
Net investment income		423			449			(6	)		1,679			1,700			(1	)
Other income (loss)		79			(30	)		N/M			(626	)		(3	)		N/M
Income tax (expense) benefit		(69	)		16			N/M			(25	)		(29	)		14
Net realized gains (losses)		(5	)		149			(103	)		105			(784	)		113

Net income (loss)	$	190		$	217			(12	)%	$	258		$	17			N/M	%


Financial Ratios
Loss and LAE		82.6	%		91.2	%					81.8	%		80.7	%
Acquisition expense		17.2			17.1						17.1			17.2
Underwriting expense		16.0			17.5						14.4			15.0

Expense		33.2			34.6						31.5			32.2
Dividend		0.4			0.3						0.3			0.3

Combined ratio		116.2	%		126.1	%					113.6	%		113.2	%

SUPPLEMENTAL STATUTORY DATA
DECEMBER 31


	(Preliminary)
(In millions)	2010		2009

Combined Continental Casualty Companies
Statutory surplus (1)	$	9,821	$	9,338

Life Company
Statutory surplus	$	498	$	448


(1)		Represents the combined statutory surplus of Continental Casualty Company and its subsidiaries, including the Life Company, as determined in accordance with statutory accounting practices.

CNA FINANCIAL CORPORATION
Financial Supplement
Property & Casualty Operations Loss & LAE Ratio Analysis


	CNA Specialty
	2010 YTD			2009 FY			2009 FY
	Evaluated at			Evaluated at			Evaluated at
	12/31/10			12/31/09			12/31/10
Gross Accident Year		62.6	%		65.6	%		67.3	%
Impact of Reinsurance		4.3			(0.4	)		0.4

Net Accident Year		66.9			65.2			67.7	%

Impact of Development and Other (1)		(12.9	)		(8.3	)

Net Calendar Year		54.0	%		56.9	%


	CNA Commercial
	2010 YTD			2009 FY			2009 FY
	Evaluated at			Evaluated at			Evaluated at
	12/31/10			12/31/09			12/31/10
Gross Accident Year		71.7	%		71.5	%		70.2	%
Impact of Reinsurance		3.8			3.3			4.0

Net Accident Year		75.5			74.8			74.2	%

Impact of Development and Other (1)		(8.7	)		(4.3	)

Net Calendar Year		66.8	%		70.5	%


	P&C Operations
	2010 YTD			2009 FY			2009 FY
	Evaluated at			Evaluated at			Evaluated at
	12/31/10			12/31/09			12/31/10
Gross Accident Year		66.8	%		68.4	%		68.7	%
Impact of Reinsurance		4.8			2.2			2.7

Net Accident Year		71.6			70.6			71.4	%

Impact of Development and Other (1)		(10.6	)		(6.1	)

Net Calendar Year		61.0	%		64.5	%


(1)		Other includes the impacts of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.

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